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Katherine Wang & Timothy Zhou News/Business. (2013) Documentary 'The Federal Deficit & Debt.' New.

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00:11:00

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Richmond, CA, USA

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Channel 43

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mpeg2video

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ac3

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704

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480

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Washington 4, United States 3, Us 2, Boston 2, The Economy 2, U.s. 2, Ylvia Burwell 1, Silvio Burrell 1, Luisakers Gutierrez 1, Catherine Wang 1, Ken Eiler 1, Joshua Gordon 1, Timothy Zhou 1, John Boehner 1, The Air Force 1, Nbc News 1, Dallas 1, Maryland 1, April 1, Extracurriculars 1,
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  CSPAN    Student Cam    Katherine Wang & Timothy Zhou  News/Business.   
   (2013) Documentary 'The Federal Deficit & Debt.' New.  

    April 21, 2013
    6:50 - 7:01am EDT  

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16, the air force, for another -- a number of other place. it should be our new, advanced, all-purpose fighter jet. it is a plan that was supposed to be in these big -- and its guys fighting. it is still in development. it is a program that has gone tens of billions of dollars over budget. i borrowed into this program as a way to write about the overall challenges of the department of defense at it. -- defense budget. this term -- this plan is singular in its costs, the way it has been structured, delays. as i write in the piece, it's most effective defensive attribute may not be all of its radars and sensors and missiles and stealth technologies and ability to fight at supersonic speed, it may be the way it has been designed to evade budget covers. >> more with rajiv chandrasekaran tonight at 8:00
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on c-span's q and a. > catherine wang and timothy zhou our second prize winners. the attendance eastern middle school in silver spring, maryland. in their video, they asked the president to make the economy and deficit reduction a party in 2013. >> we face the greatest challenge of all. a massive debt and exceeding the entire size of our company. >> the debt affects all of us. the nation is on the road to dallas -- two banker secured >> balance the budget now. >> it is a very big, political policy decision. does create large deficits into the future. we must reduce the deficit. >> it would affect a lot of people in a lot of different ways. >> it is time that we raise the bar.
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>> deficit is our our economy -- >> i'm pretty sure it has to do with the economy and the government. >> lack of something. debt. a debt that we can't pay. >> i really have no idea. although much of the younger generation is unaware of what he does that is, it is a factor in the nation, economy, and our future. >> stairmaster president, in order for the united states to the life ofbe in freedom and liberty, the growing deficit and debt should be the most important issue to consider in your presidential journey.
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isat the moment, our future a dilemma. in school, extracurriculars like athletics and art is part of our preparation for a better future. it is important to us. >> in the united states, the economy is a significant part of our society. buying, selling, and trading, borrowing, and using money to fuel economic growth locally and nationally cleared it leads us to stability and prosperity. >> the economy is the most important activity in any society. when you buy stuff, when you owe to school, when you buy a house, when you of the bank and deposit your money -- it is all part of economic activity. is --ever, the economy due to deficit and debt. the federal deficit is at more than $1 trillion. the national debt is that more and $16 trillion. the senior director of the
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bipartisan policy desk says that the debt has been acutely living so much that the economy is on hiring. >> our debt is the percentage of gdp. in the last 30 or 40 years has in less than 40%. it is only in recent years that we have seen a client. the fact is, we are in dangerous territory. that thesullivan says policymakers are arguing and debating but missing the main shellshocked u.s. economy. >> joshua gordon says that the deficit is continuing to expand because of job loss, creating less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have paid or they're getting less. but also we have this mandatory spending program, which grow on autopilot. food stamps programs, medicaid, based on a limited economy is
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bad. >> the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not been fixed at all. maybe they can never be fixed. to lift the cloud of death that hanging over our country, and we all saw the problem of our fiscal balance overnight. what we can do is avert the cliff in a manner that serves as a down payment on an a catalyst for major solutions enacted in 2013 that begin to solve the problem. ♪ >> if you can reduce and then -- one isthe deficit increasing the amount of revenue coming through tax policy, or reduce the amount of expenditures by cutting back on spending or some combination of those two.
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i believe that the most credible way is through what we call a balanced approach. >> republicans bicker of the john boehner, republican speaker of the house, says effective cuts are the way to sell the debt problem. >> rule against must solve this problem by getting the spending line down. the charts depict what i have said for long long time. why shouldn't have a spending problem that cannot be fixed with tax increases alone. this chart will look a lot worse. our kids and our grandkids are the ones who are going to suffer a cut washington was too shortsighted to fix the problem. the generation will suffer from this issue in the future. thef we don't solve
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problem, eventually they're going to cut more. >> we should invest in education. it has to be a continuing priority because number one, we owe it to the american people to make sure that each and attaincan obtain their full potential. but also we need the country to maintain. it is important for people to receive their journey. we will not be able to hire good teachers. our classes may grow. and we will be able to provide a good education. then they will not really get skills for them to get better jobs down the road. then they are not able to pay their income taxes, get higher paying jobs, pay higher income taxes for the government.
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that goes into a vicious cycle. >> if we don't have the money, we cannot buy textbooks and supplies. >> college seniors who graduated in 2009 carried on average of $24,000 in student loan debt, up 16% from 2008. >> a continues to grow. today, student loan debt has climbed to an average of $27,000 nationwide. ,> if they don't go to college how they're going to afford a and once they get out of college, how they're going to pay back these student loans that are huge. think everything is up in the air and nobody knows what is going to happen. if our nation is unable to support our future, how will we be able to pursue our own
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happiness and dreams? >> the economy supports the people. >> small businesses, jobs, income -- >> many opportunities -- >> for a brighter future. >> congratulation to all of the winners in this year's student cam competition. to see more wedding videos, go to studentcam.org. >> next come alive, you're calling comments on "washington journal." " with luisakers gutierrez. after that, legislation. this morning, nbc news senior political editor mark murray looks at the potential political impact of the bombings in boston. on what is ahead on congressional action for guns. the executive director of the national consortium for terrorism and responses to terrorism. he talks about his group of the
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studies about how often americans think about terrorism. and ken eiler from the constitution process discusses the group's recent report on torture by the united states. "washington journal" is next. ♪ good morning. in washington this week, the debate over immigration will continue in the u.s. senate. another round of hearings in the senate to did she or he committee senate also debating whether states could be allowed to collect sales taxes. expect a vote on the president's choice to head up the office of management and budget. silvio burrell coming up -- .ylvia burwell expecting your more questions questions into the boston marathon bombings and the ongoing federal investigation. it is sunday, april 21.

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